SCB’s Annual General Meeting of Shareholders 2018 was expected to increase VND3,000 billion in charter capital

On 16/04/2019, Sai Gon Joint Stock Commercial Bank (SCB) successfully organized the Annual General Meeting of Shareholders 2018. At this meeting, the following documents were approved: Report of operation activities in 2018, operation orientation and scheme in 2019 of the Board of Directors (BOD), Board of Management and Supervisory Board; profit distribution plan in 2018 and profit plan in 2019; plan to increase charter capital in 2019; resignation of 2 BOD and 2 Supervisory Board members and election of 4 supplementary individuals for 2017-2022 term.

* Positive business results in 2018

At the end of 2018, SCB primarily reached all business and restructuring targets according to the roadmap approved by the State Bank, strengthening the solid foundation, preparing for stable and sustainable development in the following years. Specifically, as of 31/12/ 2018, SCB total assets reached VND508,954 billion, an increase of 14.6% compared to 2017 and continued to maintain its position in the group of 05 largest commercial banks in Vietnam. SCB deposits and loans continued to witness the double-digit growth. Deposits increased by 18.4% to VND418,338 billion and loan balance increased by 13.28% to VND310,892 billion. SCB consolidated pre-tax profit in 2018 was VND229 billion, an increase of 39.5% compared to 2017. Bad debt and overdue debt ratios to total loan balance remained low, 0.61% and 0.42% respectively at the end of 2018. The minimum capital adequacy ratio (CAR) reached 9.69%, higher than the regulated level of 9% of State Bank.

* Increase in non-interest income, less depending on credit income

In 2018, business results shifted towards increasing non-interest income, boosting individual customer growth. The development of international credit card, money transfer, eBanking, insurance, international payment and trade finance services has brought a strong growth for SCB non-interest income. In 2018, SCB total net non-interest income reached 1,746 billion VND, an increase of 230 billion VND, an increase of 15.2% compared to 2017, of which net revenue from service activities reached VND1,299 billion with impressive growth rate of 49.2% compared to 2017.

* Developing customer-oriented banking technology and optimizing operation

Associated with the development of business activities, SCB has promoted technology investment in most of the activities to change the management system and customer service, improve the competitiveness in industry 4.0 era. During the year, SCB successfully completed and went live Core Banking and Digital Banking systems, the latest version of Flexcube 12.4 of Oracle and Treasury project - Fis Front Arena, setting important milestones for development, creating a platform to bring modern product-service packages, and bringing best experience to customers, gradually improving management capacity, and enhancing security. Since then, SCB will be able to attract more customers, expand markets, improve competitiveness and contribute to increasing long-term values for customers and SCB.

* Expanding operation network, strengthening human resources

In the past year, SCB organizational structure has changed, aiming at a modern management model, shortening operation, increasing resource utilization and reducing risks. SCB pays special attention to building a qualified staff to meet the development pace. Being aware that human is the most precious resource, in 2018, SCB promoted the building of recruitment brand with an 'ecosystem' of diverse, modern and professional recruitment channels. SCB actively improved the coverage of employers to promote SCB brand with the goal of positioning in top 5 Vietnam best places to work. As of 31/12/2018, the number of SCB employees was 7,258, an increase of 830 individuals equivalent to 12.9% compared to the beginning of the year.

Together with with the development of modern banking services, SCB continues to strengthen its network by adjusting the scale, upgrading the facilities of (sub)branches in accordance with the operation situation as well as open more transaction points where banks are not yet present. In 2018, SCB opened 2 branches and 9 transaction offices, bringing SCB total transaction units to 239 in 28 provinces /cities nationwide.

SCB is expected to increase its charter capital by more than VND3,000 billion, becoming one of the banks with the highest charter capital in Vietnam.

Through strong forecast of the economic prospect in 2019, on the basis of continuing to implement SCB restructuring goals in the period of 2015 - 2019 approved by the State Bank, SCB has submitted to the meeting for approval of the operation targets in 2019: financial restructuring with a focus on shifting business models towards increasing non-interest income; promoting personal customer growth; consolidate the organizational structure and build a quality staff; developing customer-oriented banking technology and operating optimization; building and improving SCB culture; At the same time, approach to Basel II-oriented risk management method.

In 2019, SCB aims to achieve pre-tax profit of VND276 billion, increasing 19.48% compared to 2018; total assets increased by 9.64% to VND558,015 billion; deposits increased by 13.15% to VND473,338 billion; customer loans increased by 13% to VND341,138 billion.

With the orientation of becoming a modern and versatile retail bank, SCB is projected to increase the number of personal customers to 2 million in 2020.

SCB is in the final phase of the restructuring process, and this period is expected to end in 2020. However, SCB can actively accelerate the restructuring speed by the plan of active restructuring. Mr. Vo Tan Hoang Van – BOD member cum CEO - said: “After the regulatory review of SCB, the Government and the State Bank allowed SCB to develop a new restructuring plan for the next period. This is considered an active restructuring plan to support new mechanisms, helping SCB become more solid after the process of restructuring and developing in a healthy and sustainable direction. It is expected that this active restructuring plan will be approved by the Government and the State Bank in the second quarter of 2019”.

SCB Annual General Meeting of Shareholders 2018 supplemented two new BOD members who are Ms. Mai Thi Thanh Thuy and Ms. Nguyen Phuong Hong, replacing Mr. Chiem Minh Dung and Mr. Ta Chieu Trung for resignation; additionally elected two members of the Supervisory Board, namely Mr. Luu Quoc Thang and Mr. Nguyen Manh Hai in place of Mrs. Pham Thu Phong and Ms. Vo Thi Muoi for resignation.

Overview of SCB Annual General Meeting of Shareholders 2018.


Shareholders are voting at the meeting.


Introducing new members of Supervisory Board for the 2017-2022 term.


Introducing new members of BOD for 2017 - 2022 term.